DEERFIELD, ILL. — Mondelez International will launch its SnackFutures innovation hub on Nov. 1. The new initiative will include internal personnel and partnerships with external groups. The focus of SnackFutures will be in three areas — the creation of new brands and businesses, reinvention of some of the company’s smaller brands, and the funding of start-up entrepreneurs.
Management said it expects the effort to generate $100 million in revenues by 2022.
“Discovering and unleashing innovative ideas in snacking that will delight consumers and drive growth is a key element of our new strategy,” said Tim Cofer, chief growth officer of Mondelez International. “We are launching SnackFutures, a new forward-thinking innovation hub, to capitalize on new trends, and mobilize entrepreneurial talent and technologies to build and grow small brands with large-scale potential. SnackFutures will unlock snacking growth opportunities around the world that respond to emerging trends and changing consumer preferences.”
Mr. Cofer will lead the SnackFutures initiative. The initial focus of the program will be in three strategic areas, including well-being snacks and ingredients; premium snacks and ingredients; and digital platforms and capabilities.